It is most famous as the aircraft involved in the Dambuster raids, which saw 19 Lancasters attack German dams with Sir Barnes Wallis's "bouncing bombs" in 1943.
A total of 55,573 airmen of Bomber Command died in WWII. Their average age was 22.
RAF Coningsby's Sqn Ldr Dunc Mason said: "To see these two aircraft flying at events together will be a unique sight and also an opportunity to truly commemorate those who paid the ultimate sacrifice."
The Canadian Lancaster arrived in England on 8 August after stopping en-route in Greenland and Iceland.
Sqn Ldr (Ret) David G. Rohrer, of the Canadian Warplane Heritage Museum, said: "It's been something that has been in the back of our minds for many years and we always thought it would be very special to have the only two flying Lancaster bombers coming together."
He added: "To see these two airplanes with fighter escorts flying over the English countryside will be a once-in-a-lifetime opportunity."
The Lancaster bomber was designed byRoy Chadwickwho was born in Farnworth, near Widnes, in 1893